Newly AIM-listed phosphorus and iron explorer Kodal Minerals rose steeply on Thursday after floating in the last days of December.
Shares in the Norway-focused outfit were up 60% to 1.32p by 14:55 on Thursday, an 88% rise from the 0.7p price at which it raised £1m in its initial public offer.
The company is developing the Kodal Project in Southern Norway, which was originally looked at by Norsk Hydro, and using historical data on the project intends to establish a mineral resource estimation soon.
The project has a total indicated mineral resource of 14.6m tonnes at 2.26% phosphorous and 24.12% iron, with an inferred mineral resource of 34.3m tonnes at 2% phosphorous and 20.38% iron.
Chief Executive Luke Bryan said once environmental and social impact assessment studies and preliminary engineering works are completed the company will apply for a permit application leading towards an operating licence.
"The company will also be undertaking marketing studies on its high grade phosphate concentrate (41.8% P2O5) and will be conducting some additional tests to try to improve on its 62% iron concentrate."
House broker SP Angel, which owns 5.2% of the shares, with directors almost another 23%, has tipped the stock to re-rate to 3.1p in the short term based on a heady discounted cash flow analysis.
Automotive software solutions provider Incadea kicked off the year with its expectations for its full-year results.
The group said 2013 revenues grew organically by more than 20%, driven by strong trading during the last few months of the year, particularly in December which saw the company achieve several new business wins.
The margin on earnings before interest, tax, depreciation and amortisation (EBITDA) is expected to have climbed in excess of 20% before expenses related to non-organic corporate development costs.
The group also revealed it had signed a €15m, five-year senior unsecured working capital facility to support its growth plans.
It said that together with the cash on its balance sheet, the undrawn portion of the facility would provide the necessary financial resources to deliver against the pipeline that the company has built up during the last few months.
Chairman David Hobley said: "Incadea closed 2013 in a considerably enhanced position. The final months of the year saw the signing and agreement of terms for some of the most significant contracts in the history of the company.
"We are now entering a phase of significant investment [and ...] these new initiatives should provide us with high levels of revenue visibility for many years to come and, hence, give us great confidence about the future prospects of the group."